Venezuela DEFAULTS As Country Completely COLLAPSES! - What This Means
In this video, I talk with author and economic analyst John Sneisen about one of the last straws in the crumbling country of Venezuela. Default.
Venezuela is officialy defaulting on bond pay-outs and we at WAM have been predicting this for a long time. The oil dependent country has seen hyperinflation in the past nearly two years. The socialist totalitarian government has seen its innevitable end, but it's not giving in without a fight and it appears they hope to bring down as many of their own people as humanly possible.
With vast amounts of printing of the Venezuelan Bolivar, we're seeing people bring stacks of money to the store to weigh after waiting in excruciatingly long bread lines. People have been forced to break into zoos in order to feed their families. The country has run out of toilet paper. People are attempting to flee only for the government to make them wait ridiculously long periods of time to actually get a passport.
Recently, Maduro put forward "The Rabbit Plan" which gave starving families rabbits to breed and eat. The problem (among many) is that the people begun keeping them as pets. Besides, it's an absolute joke to taunt your own people by giving them rabbits, all while Maduro isn't afraid to eat an empanada on live television.
The fact is, socialism always ends with the leaders living in palaces and the people drinking out of gutters.
John breaks down the growing trend of using Bitcoin in Venezuela as cash is hyperinflated into oblivion.
Predators are also coming out of the woodwork as Russia announced they will restructure 3.15 billion dollars of debt payments that Venezuela owes Moscow, all the time knowing that they would default.
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Stay tuned as we continue to cover this astonishing issue. Our thoughts and prayers are with the people of Venezuela. Don't forget to Upvote & Follow!
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The only problem Venezuela has is that world deep state scum wants their oil for free . And they will do anything they can to destroy country`s currency , bribe locals to form opposition parties and so on . On your point that in socialism elites live in palaces and the rest is hungry , how is that different from what we see in many capitalism countries today ?
Governments produce no products. Except laws, waste, and wars. Citizens produce products. Socialism operates off of the concept of free services. "free" services offered by an entity that produces nothing of value to pay for them. This means the "free" things must be paid for in one of two ways. 1st) Taxes... which is forcefully taking money from the citizens, or 2) Debt... which is taking credit cards out in the name of the citizens spending the money in their name and then making them responsible for it.
Socialism consumes more than it produces. It looks good when there is wealth and resources that have been saved prior to its implementation. It looks wonderful as these FREE services are there. All the time those savings of funds and resources are being burned through at a rapid pace.
It is inevitable that it will fail. It exists purely in the realm of the illusion of "free" provided by an entity that doesn't do anything to pay for that "free". So they must either steal from the citizens to pay for it or put them into debt slavery.
So what is the difference between socialism and capitalism. One you can make choices, the other you cannot. Can they both be corrupted? Yes. Human nature is skilled at corrupting anything.
Yet of those only ONE has lifted nations out of debt and made them successful. That hasn't actually ever occurred with socialism.
Socialism does not work. Crony Capitalism doesn't work either... yet the word Crony must be added. Free Market Capitalism aka Laissez Faire has done amazing things for many places in the world in numerous cases.
Once the government starts favoring certain entities and disfavoring others it introduces the cronyism. That is no longer a free market.
I agree with you that both systems are crap but I have to add one thing you forgot about . Those nations that are "lifted" by capitalism or "free choice" are only lifted because of centuries long exploitation and theft from resource rich countries . What is happening in Venezuela is not mismanagement or accident .
This is what they are doing .
t care about Venezuelas economy)What is going on is nothing but robbery !!!
I disagree completely.
Free Market is creating innovations, products, etc. The concept of THEFT of resources comes into play when a government defines the owners of the resources and one group, and denies another. That is not a free market. It is crony capitalism.
Venezuella was becoming quite the power house until they went the socialist route. Did people prey upon them? Yes. Yet I wouldn't point the finger at capitalists. The predators in socialist countries usually are biggest that actually are at the top of the government structure in such an environment. That is at least what history shows.
The only reason Venezuelan people had revolution is because they`ve seen wast amount of their resources are leaving the country and they are getting nothing in return . Its the same problem all over the world
I know you`ve been told all your life that capitalism is good and west is spreading freedom and democracy , but that is simply not truth .
What are western elites doing (without telling you) in poor countries
is beyond any of your imagination
I don't believe things just because I am told them.
That is called an Appeal to Authority. I do not recognize any authority over my mind but my own.
You seem like you believe what you've been told though. Crony Capitalism is indeed bad. Yet it is also NOT a Free Market.
That is the truth.
Monopolies are also bad. Yet they cannot persist without government collusion, thus NOT FREE MARKET.
Not what people are telling me. Simple logic, and reason.
No appeal to emotion, no appeal to authority, just use my own mind and apply some rational thought.
Use your rational thought but also do your own research and also talk to the people
Apparently I've done quite a bit more than you. So grab a mirror... read out loud what you just wrote me.
I have done extensive research on this topic. Extending well beyond Venezuela.
I've looked into Sweden and how it succeeded which was due to Laissez Faire by the way. I've also read tons of books and researched a lot of this subject at mises.org which has tons of articles, essays, and presentations on a lot of these topics going back many decades and based upon a lot of scholarly research.
Have you done this?
So do me a FUCKING favor. Stop assuming you know me, and what I do and do not know.
Focus on what YOU know.
Oh and instead of trying to keep telling me what I know and don't know do me a favor. Focus on what you know. You have no clue what I do an do not know.
I am very well aware of countries being raped for resources. That is also being done by socialist and crony capitalist countries. That's kind of what all governments do when cronyism comes into play.
Governments generally are corrupted.
That doesn't make the problem capitalism.
My problem with socialism is it removes choice. It is other humans dictating your choice for you. That is a quick path to corruption.
ALL the woes people put at the feet of capitalism are not actually a free market. They are crony capitalism...
I am not a fan of crony anything.
I am a fan of free market and laissez faire.
have you ever lived in socialism ?
That depends. The United States is not full on socialism like Venezuela, but we've been adding more and more socialist programs for years.
I've been researching the topic since long before Venezuela adopted socialism.
I've also spoken and interacted with a lot of people that did. I've also interacted with people after socialism was ended. Especially from the Eastern European regions.
Yet, whether you LIVE in something is irrelevant to whether it makes you know WHY it is happening. A lot of people experience problems and jump to conclusions about the cause that are wrong.
So I don't look at one country. I look at the history of socialism, and the many times it has been tried, and the large numbers of deaths just within the last century during its implementation.
What is happening in Venezuela is what many of us expected to happen. Why? It is what has happened in other cases of places that did the same.
Socialism doesn't work.
Crony Capitalism is not good either. I do not endorse it.
Yet people often try to treat free market and crony capitalism like they are the same thing. There is nothing "FREE" about cronyism.
plus I am not telling you what to believe , I am just giving you another point of view
Actually you are telling me about myself. Things you are wrong about and couldn't possibly know.
Here are some example quotes of you doing it.
You know I've been told that? Well what you know is wrong.
Again. I have. I even told you that in what you were replying to with this comment. I am very well versed in this subject.
Really? You can read my mind? You know what I can imagine, or what I know?
Thank you,
interesting content.
Maduro had led his country to bankrupcy. This is the way every socialist regime always ends.
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